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TWLO

Twilio

$92.64

-4.42 (-4.55%)

13:57
11/04/19
11/04
13:57
11/04/19
13:57

Twilio lowers FY19 EPS view to 12c-13c from 16c-17c due to 'calculation error'

In a regulatory filing earlier, Twilio announced it was updating its full year 2019 non-GAAP diluted earnings per share guidance as disclosed in a press release issued on October 30, 2019 announcing the company's financial results for the quarterly period ended September 30, 2019 due to a calculation error. FY19 non-GAAP diluted earnings per share guidance is expected to be 12c-13c, instead of 16c-17c, the company stated in the filing. Consensus for FY19 EPS is 14c. In afternoon trading, Twilio shares have fallen $4.29, or 4.4%, to $92.77.

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TWLO Twilio
$92.64

-4.42 (-4.55%)

10/31/19
MONN
10/31/19
DOWNGRADE
MONN
Neutral
Monness Crespi calls Q3 report 'final straw,' downgrades Twilio to Neutral
Monness Crespi analyst Brian White downgraded Twilio (TWLO) to Neutral from Buy, calling the company's mixed Q3 results and weak Q4 outlook "the final straw in what has been a sideways year." He previously said he found the timing of the company's call at the same time as Apple (AAPL) and Facebook (FB) "very peculiar" and that his "paranoia proved well founded" given the company's less-than-optimal report. White, who also called the tone of the company's earnings call "concerning," cut his revenue and EPS estimates for Twilio for FY19 and FY20 following the report and call.
10/31/19
NEED
10/31/19
NO CHANGE
Target $125
NEED
Buy
Twilio price target lowered to $125 from $165 at Needham
Needham analyst Richard Valera lowered his price target on Twilio to $125, saying that while the company beat on Q3 earnings, its FY19 guidance cut was a "shock". The analyst notes that Twilio saw "sharp" moderations in growth over the past 2 quarters, but still keeps his Buy rating on the stock longer term given its position as a "category leader" in a multi-billion dollar market with "nascent" total addressable market expansion potential.
10/31/19
DADA
10/31/19
NO CHANGE
Target $125
DADA
Buy
Twilio price target lowered to $125 from $163 at DA Davidson
DA Davidson analyst Rishi Jaluria lowered his price target on Twilio to $125 after its "mixed" Q3 results, with a "rare miss" on revenue and a light Q4 outlook. The analyst is keeping his Buy rating however, stating that absent the errors in the billings process, revenue would have exceeded expectations. Jaluria also notes that the quarter was "solid overall", with greater Flex adoption and accelerating revenue growth at its SendGrid business.
10/31/19
10/31/19
DOWNGRADE

Fly Intel: Top five analyst downgrades
Catch up on today's top five analyst downgrades with this list compiled by The Fly: 1. Gardner Denver (GDI) downgraded to Neutral from Outperform at Credit Suisse with analyst John Walsh saying he does not see a catalyst to drive the stock higher. 2. Owens-Illinois (OI) downgraded to Market Perform from Outperform at Wells Fargo with analyst Gabe Hajde saying he was wrong as the primary tenant to his thesis, volume growth, is not materializing. 3. Cree (CREE) downgraded to Underweight from Neutral at JPMorgan with analyst Paul Coster saying the company's "lackluster" Q2 guidance underscores a lack of near-term catalysts. 4. Southwest (LUV) downgraded to Market Perform from Outperform at Bernstein with analyst David Vernon saying he thinks the market is pricing in all the good news on the return of Boeing's (BA) MAX and not appreciating how disruptive its return could be on either the unit revenue or cost fronts. 5. Twilio (TWLO) downgraded to Neutral from Buy at Monness Crespi with analyst Brian White calling the company's mixed Q3 results and weak Q4 outlook "the final straw in what has been a sideways year." This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.

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